Lawsuit Claims Carriers Bribe Small Brokers

Lawsuit Claims Carriers Bribe Small Brokers

California contingency fees decried as kickbacks to lure Main Street businessA California case involving charges that major insurers paid small brokers “bribes or kickbacks” has drawn the interest of several state insurance regulators, an attorney on the case noted last week.

The revelation from Finley Harckham, a partner in the New York law firm of Anderson Kill & Olick, follows last week’s disclosure that a New York attorney general’s office inquiry into controversial contingency fees received by larger brokerages has prompted a subpoena for a major insurer.